Being an entrepreneur is not any easy job; if it was, everyone would do it. Starting your small business is wonderful and you’ve probably gotten so much advice that you don’t know what to do with it, so here’s some of the most important tips to remember. And maybe will even give you a little encouragement in moments when you need a boost. Running a small business requires dedication and energy, so these tips can help you along the way.
Tip #1: Listen to Your Instincts
Your instinct is a powerful thing, and when it comes to your business, it will help you through tough decisions and everyday tasks. You know what’s best for you. For example, you could be launching a product soon, but you feel like it’s not ready yet. You know that it would cost more money to delay the launch, but you delay the launch anyways because the product is not up to your standards. This is only one way that listening to your instinct could come in to play, but no matter what decisions your company requires, remember that your gut is usually right.
Tip #2: Be Able to Recognize Your Flaws
Your entrepreneur flaws can be what makes or breaks your business, so be honest with yourself and be prepared to work on them as your business grows. Your failures are not a bad thing. Your failures teach you about yourself and your company and help you make better decisions in the future.
Tip #3: Be Prepared to Work Hard
Any small business owner can tell you that they didn’t get where they are now without hard work. Remember that nothing will come to you, you have to work for it. And the hard work you do now will show in many ways.
Tip #4: Don’t Allow Anyone to Intimidate You
Criticism can be hard to take, whether it’s constructive or unwarranted, but never let it intimidate you. Put those words into use or put them behind you. You worked hard for your business, so don’t be afraid to show it.
Tip #5: Know Your Strength and Weaknesses
No one is perfect at everything in their small business. Knowing your strengths and weaknesses is important, so you know which areas you need to hire in. Having capable employees takes unneeded stress off of you and helps you focus on tasks that need your attention. We know that letting go and putting responsibilities in other people’s hands can be scary, but once you do it, you’ll feel like the weight of the world has been lifted off your shoulders.
Tip #6: Business Comes First
If your main focus is not your business, your business will never succeed. A business is like a child, it needs lots of attention and care to grow properly. Your business should be your passion, so show other people this by putting everything you have into it.
Tip #7: Make Your Product Easy to Buy
People don’t want to have to go out of their way to buy your products or services if there is an easier option available, so make it as easy as possible to find and buy them. To avoid any confusion, you could research ways of making your website accessible to your customers or put a button on your social media that leads right to your website.
Tip #8: Solve Problems, the Business Will Follow
If you have an idea for a product, the first question you need to ask yourself is, “What problem does this solve?”. If it solves a problem, then the business side of it will come about easier than you think. A product that doesn’t solve a problem does not have a long lifespan on shelves.
Tip #9: If an Opportunity Arises, Seize it
Opportunities don’t always come about when you expect them to, but if the opportunity benefits you and your business, then don’t think twice about it. New opportunities can open up so many doors for you. For example, a big box retailer could approach you about putting your products into all of its storefronts, which requires you to increase your production substantially, but your current supplier doesn’t have the capacity to do so. This could be a tough situation because you would get a lot more exposure to your product, but you would have to spend more money to ramp up your production numbers. But when you look at it, the value of exposure outweighs the cost of increased production. This is a huge opportunity and would be amazing for any business, so why not take it!
Tip #10: Don’t Start a Business to Get Rich
Starting a business can be enticing when you see a millionaire on tv, talking about how they started their business with $100. But the reality is, that is not the rule, it’s the exception. Only start a business if you are capable and willing to do so. Their business didn’t become successful just because they were smart with their money, it was successful because they loved what they did.
Tip #11: Don’t Let Fear Hold You Back
To be frank, there is no one that has been fully excited to start a small business. It’s a scary, uncertain place; but don’t let that stop you from fulfilling your dreams. Yes, it’s intimidating, but if you don’t start, you’ll never know what’s on the other side.
Tip #12: Have a Clear Vision of Your Goals
Your business should have clear goals of what you want to achieve and how you want to achieve it. Otherwise, your business will fail because if you don’t know where to start then you won't know where to go. Before you move forward with your idea, sit down and write out a strategy. It will make everything easier in the long run.
Owning a small business can be the most rewarding, but also the most exhausting, task you will ever do, but remember that the most important aspect is to have fun and enjoy the experience. Hopefully, these twelve tips are what you need to push you to achieve your dreams and your small business a success.